Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion the Finance & Leasing Association (FLA), said:
“The second charge mortgage market continued to expand in Q1 2026, with new business up 33% by value to £625 million and volumes rising 22% to almost 11,500 new agreements, year-on-year. This reflects demand for flexible borrowing options to support household budgeting.
“These figures highlight the continued strength of the second charge mortgage market. At a time when many customers are considering their borrowing options carefully, second charge mortgages provide a flexible route to additional finance while allowing borrowers to retain their existing mortgage arrangements.”
Table 1: New second charge mortgage lending
| Mar 2026 | %
change on prev. year |
3 months to Mar 2026 | % change on prev. year | 12 months to Mar 2026 | % change on prev. year | |
| Value of new business (£m) | 228 | 36 | 625 | 33 | 2,297 | 27 |
| Number of new agreements (No.) | 4,129 | 20 | 11,489 | 22 | 43,843 | 18 |
Note to editors:
- FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.
- In 2025, FLA members provided £163 billion of new finance to UK businesses and households. £122 billion of this was in the form of consumer credit, representing almost a third of total new consumer credit written in the UK in 2025.
- For media enquiries, please contact the FLA press office on 020 7420 9656.
